Foot Locker sees healthy organic growth

In its second quarter which ended on Aug. 3rd, Foot Locker saw sales increase to $1,454 million which equates to a 6.4 percent rise or 5.9 percent if currencies are kept at a constant. On a like-for-like basis, sales were therefore up by 1.8 percent. These figures include figures for the first month of the German chain Runners Point, which was acquired by Footlocker earlier this year. Net income jumped from $59 million to $66 million in the second quarter of 2012. For the first six months, sales improved by 5 percent to $3,092 compared with last year’s first half. Comparable store sales were up by 3.5 percent. Net income improved to $204 million compared with $187 million one year ago. In the second quarter, Foot Locker opened 24 new stores, revamped or relocated 89 more, and shut down 44. As at Aug 3rd, the retailer counted 3,495 stores in 23 countries, including 194 Runners Point shops. On top of this, the chain has 45 franchise stores in South Korea and the Middle East plus another 24 under the Runners Point and Sidestep banners as a result of the Runners Point Group takeover .

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